05.07.2009
Occur when the activity of one person has an inadvertent impact on the well-being of another person. Many aspects of environmental degradation, such as air pollution, global warming, loss of wilderness and contamination of water bodies, are viewed as externalities of economic transactions.
By externality we mean a change in economic value due to certain actions that take place on a level that the parties that are involved in are not evaluating it
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Price of the gas as it leaves the terminal, namely prior to it entering into the transmission system. When comparing energy prices it is important to understand at which point in the gas chain the energy/gas is being priced
With the industry wanting to reach ever more complex geological targets, deeper wells, and wanting to maximize the full potential from maturing fields to meet today’s increasing production targets, new methods of drilling (ERD) are constantly being developed. The last 15 years have seen the limits of extended reach wells pushed beyond 37,000 feet. ERD mainly falls into 4 categories: ultra long, very shallow, very deep, small rigs